FX.co ★ Forecast for AUD/USD on April 16, 2020

AUD/USD

The Australian dollar's exit over the indicator lines of balance and MACD, which occurred on Tuesday, turned out to be false. Yesterday, the price moved back under technical support, it ended the day underneath. The Marlin oscillator turned down on the daily scale. The aussie's first goal is the nearest line of the price channel at around 0.6180. Overcoming support opens the second target of 0.5805.

The double divergence on the Marlin oscillator fully worked out on the four-hour chart, as a result of which the price went below the balance and MACD line. The situation has gone downward, we expect the Australian dollar to fall towards these goals.